One of the biggest points of concern for the Royals is maximizing the return on their investments. As a small market team every dollar spent is a dollar that needs to be used correctly for this team to have success. So obviously Jose Guillen and Mike Jacobs present a huge discrepancy to this idea. But are the two sluggers being over paid or simply misused?
As has been mentioned before the best possible combination of these two players(due to atrocious defense and some major platoon splits) would be for the two to platoon the DH role with Mike hitting against righties and Jose hitting against lefties (Note: JoGui actually hits better against righties than lefties, but 100 points less than Mike, and while he isnt great against lefties hes far better than Mike)
But are they overpaid for what they should be doing? Lets see.
Here are the numbers for this arangement: http://spreadsheets.google.com/ccc?key=r8P4YmO8CFA1pGHRgHuh4yQ
( I could not for the life of me figure out how to just insert that)
We can quickly see that Jacobs, although an abominable defender and saddled with the positional detriments of the DH is quite worth his money...against right handers. Against Lefties hes so bad that it drags him back down to replacement level.
Jose on the other hand is just bad. Against righties, hes not terrible and is worth about one WAR, but atrocious defense and poor hitting against lefties destroys him.
So the answer is yes they as a tandem are being overpaid without a doubt.
But it would seem that if GMDM could bring in someone who could mash lefties just as well as Jacobs hits righties for a similar price(4 million) and platoon them at DH, then you would have a pair that could stack up against most any other DH in the league.
As a side note I also tried Olivo's numbers in the calculations at first, since his OPS is 50 points higher than JoGuis against Lefties. Thing is Jogui walks enough(first time you've ever read that) that he balances out the extra couple of singles and XB hits that Olivo gets. So in terms of wOBA Olivo actually clocks in about .010 points lower than JoGui.